MINNEAPOLIS--(BUSINESS WIRE)--
Xcel Energy (NYSE: XEL) subsidiary Northern States Power Co.-Minnesota
(NSP-Minnesota) today announced that it closed its offering of $300
million 30-year first mortgage bonds with an annual interest rate of
5.35 percent. The bonds are redeemable at any time subject to certain
"make whole" provisions.
NSP-Minnesota intends to add the net proceeds from the offering to its
general funds and apply a portion of such net proceeds to the repayment
of outstanding short-term debt, including short-term debt incurred to
fund the repayment at maturity of $250 million of 6.875% unsecured
senior notes due August 1, 2009. The balance of net proceeds will be
used for general corporate purposes.
Barclays Capital Inc., KeyBanc Capital Markets Inc., and RBS Securities
Inc. acted as joint book-running managers for the offering. BNY Mellon
Capital Markets, LLC and U.S. Bancorp Investments, Inc. were co-managers
for the offering.
This news release does not constitute an offer to sell or the
solicitation of an offer to buy any of the bonds nor shall there be any
sale of the bonds in any jurisdiction in which such offer, solicitation
or sale would be unlawful prior to registration or qualification under
the securities laws of any such jurisdiction. The offering of the bonds
may be made only by means of a prospectus supplement and accompanying
prospectus. Copies of the prospectus supplement and accompanying
prospectus for the offering may be obtained on the SEC website at www.sec.gov.
Alternatively, the issuer or any underwriter or dealer participating in
the offering will send you the prospectus if you request it by calling
(i) Barclays Capital Inc., toll free 1-888-603-5847, (ii) KeyBanc
Capital Markets Inc., at 1-866-227-6479, or (iii) RBS Securities Inc.,
at 1-866-884-2071.
Source: Xcel Energy
Contact: Xcel Energy
Financial analysts may call:
Paul Johnson, 612-215-4535
managing director, Investor Relations & assistant treasurer
or
Jack Nielsen, 612-215-4559
director, Investor Relations
or
News media may call:
Xcel Energy Media Relations, 612-215-5300